Form 4: Summit Partners Sells 6,039 Shares of Klaviyo (KVYO) Stock

Summit Partners, a major shareholder of Klaviyo, Inc. (KVYO), sold 6,039 shares of Series B Common Stock, which automatically converted into Series A Common Stock upon the sale.

Summary

• On September 3, 2024, Summit Partners L.P. and affiliated entities sold 6,039 shares of Klaviyo, Inc.'s Series B Common Stock.
• The sale resulted in the automatic conversion of these shares into Series A Common Stock.
• The price per share for the sale was $31.53.
• Following the transaction, Summit Partners and its affiliates continue to hold a significant number of Series B Common Stock, totaling 46,651,486 shares.
• The reporting entities include Summit Partners Growth Equity Fund IX-A, L.P., Summit Partners Growth Equity Fund IX-B, L.P., Summit Partners Co-Invest (Kiwi), L.P., Summit Investors GE IX/VC IV, LLC, and Summit Investors GE IX/VC IV (UK), L.P.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to stock transactions. It doesn't inherently convey positive or negative sentiment, but rather reports factual information about share sales. Therefore, a neutral score is appropriate.

Industry Context

This filing reflects the ongoing trading activity of major shareholders in Klaviyo, a company in the marketing automation and customer relationship management (CRM) space. Such transactions are common and provide insights into investor sentiment and potential liquidity events.

Stakeholder Impact

• The sale of shares by a major shareholder like Summit Partners could potentially influence investor perception of Klaviyo.
• However, the relatively small number of shares sold compared to the total holdings suggests a limited immediate impact.

Key Dates